3 Hot Entertainment Stocks For Your Watchlist Right Now
After a shaky start to the trading week, the
stock market
today looks to be moving marginally higher. Amidst all of the underlying factors in play now,
entertainment stocks
continue to make waves. This would be the case as consumer markets are holding strong even through all of this stock market turmoil now. Earlier this month, news broke of U.S. retail sales skyrocketing by 0.7% in August. This would be versus consensus expectations of a 0.8% drop. With healthy consumer spending trends persisting, investors could be eyeing some of the
top entertainment stocks
now as well.
If anything, we could look at the social media giant,
Facebook
(
NASDAQ: FB
). Whether it is social networking, playing games online with friends, or even e-commerce, Facebook has it all. As such, consumers looking to spend their leisure time with friends in the digital space would turn to Facebook. Despite all of this, the company continues to innovate in terms of its tech offerings. Yesterday, Facebook unveiled the third generation of its Portal video-calling device. This would put it in direct competition with the Echo Show from
Amazon
(
NASDAQ: AMZN
) and
Alphabet’s
(
NASDAQ: GOOGL
) Google Nest Hub. Moreover, Facebook is also launching Portal for Business, a service targeting small and medium-sized enterprises (SMEs). This would allow SMEs to deploy and remotely manage their workforces using Facebook’s Portal devices.
Elsewhere, even gaming titans such as
Sony
(
NYSE: SONY
) are not resting on their laurels now. Aside from the booming success of the gaming industry throughout the pandemic, the company still finds room to grow. Namely, Sony is set to merge its operations in India with Zee Entertainment Enterprises. Through this announcement earlier today, the duo will be creating the largest broadcasting group in India. All things considered, could one of these entertainment stocks be top buys now?
Best Entertainment Stocks To Watch Today
-
Roku Inc.
(
NASDAQ: ROKU
) -
Snap Inc.
(
NYSE: SNAP
) -
Walt Disney Company
(
NYSE: DIS
)
Roku
First up, we will be taking a look at video streaming giant,
Roku
. For the uninitiated, Roku provides both the software and hardware needed for consumers to stream digital content. Through its end-to-end portfolio of offerings, Roku has and continues to thrive amidst the current cord-cutting trends. By acting as the medium between consumers and its peers in the streaming space, Roku continues to grow. If anything, ROKU stock could potentially be a go-to for investors looking to jump on video streaming trends.
By and large, the company’s shares are currently holding on to gains of over 310% since its pandemic era low. Since then, Roku has made massive strives to improve and refine its video streaming offerings. On the content front, the company is now producing and releasing homegrown programming via its Roku Originals division. Subsequently, Roku also recently released the latest version of its streaming sticks. Said sticks now boast up to 30% faster reaction and load times on Roku’s streaming platforms.
If all that wasn’t enough, the company is also now working with e-commerce goliath,
Shopify
(
NYSE: SHOP
). Through this collaboration, Roku will be the first TV streaming app available on Shopify’s App Store. Shopify merchants can now build, buy, and measure TV streaming ad campaigns thanks to Roku. With Roku seemingly firing on all cylinders now, will you be adding ROKU stock to your watchlist?
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Snap
Following that, we have
Snap
. For the most part, the company is famous for its Snapchat social media app. Through its photo-focused setup, Snapchat allows users to interact by sending unique photos to one another. The likes of which synergize well with the company’s augmented reality (AR) software and hardware offerings. Notably, SNAP stock is sitting on gains of over 50% year-to-date. Could it have more room to grow moving forward?
Well, for one thing, the company appears to be keen on expanding its entertainment-focused offerings now. As of last week,
Zynga
(
NASDAQ: ZNGA
) is now designing a new social deception game,
ReVamp
, for Snapchat. According to Zynga, ReVamp is a “
real-time multiplayer imposter game
” where players employ a mix of deduction and trickery to achieve their goals. Now, this would be similar to the game that launched this sub-genre of gaming into the spotlight,
Among Us
. With this play, Snap seems to be keen on providing more relevant gaming experiences for its users.
Additionally, the company also posted stellar figures in its latest fiscal quarter earnings report. In it, Snap reported a total revenue of $982.11 million for the quarter. This marks a massive 116% year-over-year jump. Adding to that, the company also saw its daily active user count add up to 293 million throughout the quarter. With Snap seemingly kicking into high gear across the board, will you be keeping an eye on SNAP stock?
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Walt Disney
Another name to consider among the top entertainment stocks in the market now would be
Disney
. When it comes to the mass media space, few can compete with the likes of Disney. To date, the company’s portfolio is home to industry-leading IPs ranging from Pixar and Star Wars to even Marvel. Not to mention, the company also has a wide array of original content that consumers across the globe would be familiar with now. Accordingly, it would make sense that investors are eyeing DIS stock among other entertainment stocks.
Despite all of this, the company’s shares are currently looking at losses of over 6% just this week. The stocks’ current movement would likely be on account of CEO Bob Chapek’s update on Disney+’s subscriber growth trajectory. Just yesterday, Chapek noted that the company could see a paid subscriber increase in the “
low single-digit millions
”. While this would be below the streaming platform’s previous quarterly growth figures, one fact remains. These numbers are from a time where video streaming services were hotter than ever. Even with its conservative estimates, Disney is not slowing down on the streaming front in the least bit.
Evidently, the company recently released its streaming line-up for November 12, the second anniversary of Disney+. Among the notable additions to the platform will be Disney’s latest blockbuster,
Shang-Chi,
and The
Legend of the Ten Rings
. Through this release, Disney+ subscribers will be able to stream the movie at no additional costs. Furthermore, Disney is planning to launch its streaming service in both South Korea and Taiwan on the same day. Overall, Disney+ still seems to have room to grow. Would this make DIS stock a good long-term investment in your book?
